The crypto market is currently taking various directions with bitcoin mainly heading upwards. The giant crypto has maintained its price well above $12,500, and in fact, stans above the $13,000 price mark as we write this. On the other hand, Ripple’s XRP started moving bearishly merely after enjoying a rise above $0.40.
Ripple Coin Statistics
Yesterday, Ripple’s native cryptocurrency, XRP, started trading at around $0.4015 and maintained above $0.40 price mark for some hours after which it began to oscillate back to $0.39.
Interestingly, the Ripple coin took a slight nosedive of about 2.08% in merely 25 minutes to stop at $0.3945. In fact, yesterday it hit a low price at $0.3911 and then realized a slight upward correction to above $0.39.
Comparing the price to what it was about 20 days ago, Ripple’s XRP has seen a 5.89% nosedive and is currently in the selling zone, too.
XRP is testing a support level above $0.39 and may see further turbulence if it doesn’t correct above $0.40.
XRP Technical Indicators
XRP’s RSI is 50 at the moment, which indicates a stable price trend momentum. MACD seems less volatile in the bearish zone. Ripple coin expects further resistance at several levels going forward at $0.4020, $0.4075, and $0.41.
The primary support levels are expected at $0.3900, $0.3840, and $0.3740.
Therefore, for a fresh recovery, a strong clove over $0.3900 as well as $0.40 levels is required. But the problem is it’s been stuck right there.
Ripple Price Prediction
It is right to say that XRP has been underperforming quite throughout this year since trading at around $0.35. To the contrary, Ripple has all it takes and the potential in the world to push its cryptocurrency to start trading beyond the $0.50 price mark for good.
However, currently, it may yet further go down in the coming days unless some strategic moves are made. For instance, technically, a strong pull is indeed required to get the coin surging above $0.40 again and then above $0.45.
Nevertheless, for investors, the time right to make high moves is when the price of a quality cryptocurrency is down. Because Ripple boasts robust fundamentals and a lot of potentials, the long-term returns should be the bigger picture as XRP could be highly lucrative going forward. Is this the best time to invest in Ripple? You can probably say that, but don’t get thrown away with the emotions, take your time.
Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.